If you want to create a ring setting that is truly unique then one of the best ways to accomplish that is to purchase loose diamonds and create your own ring. Using loose diamonds to create an engagement ring, or any other kind of jewelry, is also a great way to get a beautiful piece of jewelry for a lower cost since loose diamonds are going to be more affordable than they would be to purchase a ring with the setting already in place. Loose diamonds can be a great deal to purchase, but it is important that you always have the gemstones looked by a diamond appraiser to make sure that you are paying the right amount for the diamond.
When you have your jewelry looked by an appraiser, they are evaluating and grading the diamond based on the 4 C’s of diamonds. THese are the cut, color, clarity, and carat weight of the diamond. Depending on how well the diamond scores in each of those areas. they will then determine the final value of the diamond and give this to you in an official report. You can then use this evaluation to give to your insurance company so that you can be sure to have your valuable jewelry covered in case of a theft or accident. Many people do not realize this, but even with contents coverage, your insurance company does not automatically cover valuable items like jewelry. So if you have homeowners insurance, but you have not specially added coverage for diamonds and other gemstones that you own, then you will find that you are out of luck if you try to file a claim that includes them. That is where the jewelry appraisal comes into the picture. In order to have your insurance company cover your jewelry, you will need to first have it appraised to determine its official value. The apprasiasl will examine and evaluate the gemstone and give a final number on what it is worth.
Often the amount that a gemstone appraises for is much higher than what you may be spent on the diamond. That does not mean that if you try to sell your diamond to a jewelry store or a private party that you should expect to receive the appraisal value for the stone. In fact, you will likely get only 30 – 40% of that amount if you attempt to resell it. The appraisal value is the amount that the appraiser thinks it would cost to replace the diamond should you lose it. They also tend to leave a little wiggle room by appraising it for a higher amount so that they can cvover any inflation of diamond prices in the coming years. That way, if you have a theft in your home and they take your diamond ring, your insurance company will have no problem covering the cost to replace it with an identical yet brand new ring. It will be like you never lost it. That is the importance of a diamond appraisal.